Tesla Misses Model 3 Production Prediction By Miles

Elon Musk Powerpack pladge

"This should come as no surprise", said Michelle Krebs, an analyst with Autotrader.

September was supposed to be the Model 3's big month.

It shouldn't worry investors too much though, as Tesla has a proven track record of maintaining production speed once it gets going.

Unlike most automakers, whose cars and trucks clog new and used auto lots across the nation, Tesla has a very long waiting list for its new Model 3 sedan. Considering growing competition, Tesla even announced massive discount for its expensive models.

The company produced 25,336 vehicles in the third quarter about 1.5% fewer than last quarter. However, a press release issued by the company states that only 220 Model 3 cars were delivered.

However Kawasaki Wealth & Investment Management CEO Ross Gerber told the wire service that while Musk "never made a number", he had faith in the issues being resolved.

Palestine cabinet pledges to end split with Hamas
Fatah, which runs the Palestinian Authority , has been responsible for administering areas of the Israeli-occupied West Bank. Regaining control of Gaza would help him burnish his legacy, especially after years of failure in peace efforts with Israel.

The Tesla representative Energy-Storage.News spoke to would not directly confirm that this was the case, but did say the cells were coming from Samsung SDI and were being finished and assembled into packs at the Nevada Gigafactory.

That said, investors won't wait forever for Tesla to hit its stride. It did not reaffirm or change that guidance Monday.

The company's 60 percent share rise and inability to turn a profit during this past year has roiled traditional automakers and created greater risk for all manufacturers, a report from Nordea Global Climate and Environmental Fund notes.

"We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term", the company said in a statement. Recently, they were off 1.3 percent at $337.06. Munster forecast a "breakout year" for the new sedan in 2019.

Michael LaChapelle, a portfolio manager at FoxForge Capital, which has a short position in Tesla, said he's surprised the market reaction has been so muted. In the third quarter, Tesla only managed to make 260 copies, less than the 1,500 units projected back in August.

Tesla shares had fallen about $50 off their all-time high into this news, so the fact that they are only down a couple of bucks in the after-hours session could mean the street already has digested this bad news to a point.

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